Will Murphy And Jonathan Slager Refinance 190-Unit Multifamily Community In San Diego For $46.79M

The asset involved in this transaction is The Nash, a multifamily community located at 4135 Park Boulevard in San Diego, CA. The property consists of 190 units and includes 2,100 square feet of ground-floor commercial space. The property also features 10 affordable units. The loan secured for this transaction amounts to $46,790,000, which was used for refinancing at a fixed interest rate of 5.24% over seven years.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $46,790,000
• Address: 4135 Park Boulevard
• Market: San Diego, CA
• Units: 190
• Lender: Fannie Mae
• Landlord: Will Murphy - CEDARst Companies
• Landlord: Jonathan Slager - Bridge Investment Group
• Broker: Greystone
• Loan Type: Refinance
• Loan Rate: 5.24%
• Loan Term: 7 years
• Affordable Units: 10
• Commercial Space: 2,100 square feet

This deal involved Will Murphy and Jonathan Slager, who represent CEDARst Companies and Bridge Investment Group respectively. They have successfully refinanced the existing construction loan, allowing for cash-out proceeds. Additionally, the property is set to host Sana’a Cafe opening later this summer.